LAW OF THE REPUBLIC OF UZBEKISTAN

of August 30, 1996 No. 279-I

About financial accounting

Article 1. Purpose of this Law

The purpose of this Law is regulation of the relations in the field of the organization, conducting financial accounting and creation of the reporting.

Article 2. Legislation on financial accounting

The legislation on financial accounting consists of this Law and other acts of the legislation.

If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about financial accounting then are applied rules of the international treaty.

Article 3. Fundamental accounting principles

Fundamental accounting principles are the continuity, reliability, comparability of indicators.

Article 4. Financial accounting

Financial accounting represents the arranged system of collection, registration and generalization of accounting information by continuous, continuous, documentary accounting of all economic activities, and also creation on its basis of financial and other reporting.

Financial accounting is kept by method of double record by the simultaneous and interconnected reflection of economic activity in money value on at least two accounts of financial accounting.

Article 5. Accounting information

Accounting information are the processed data on objects of financial accounting based on source accounting documents which are reflected in bookkeeping registers, the financial reporting, explanations and other documents connected with the organization and conducting financial accounting.

Article 6. Subjects of financial accounting

Subjects of financial accounting are state governing bodies, the legal entities registered in the Republic of Uzbekistan, their affiliated enterprises, representations, branches and other structural divisions located both in the territory of the Republic of Uzbekistan and beyond its limits.

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